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What Kind of Damages Can Be Paid for by Car Accident Settlement Loans?
Posted By Eliza Beth
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After you’ve been in a catastrophic car accident, you will experience many damages that can result in unaffordable expenses. A best rate car accident settlement loans can help you overcome your financial deficits by providing pre-settlement car accident money to pay for these costs. While every car accident is different, if you are not at fault for the collision and have a strong claim to a car accident settlement, then it is likely that your damages are eligible for pre-settlement auto accident loans. Some of the damages you may have experienced include property damage to your auto vehicle, personal injuries, pain and suffering, wage loss, and wrongful deaths.
Auto Vehicle Damages: When the damage to your vehicle after a bad car accident is too much, your insurance policy may not cover the total amount. For example, this is when the other driver left $20,000 in damages after they crashed into you, but your insurance coverage only pays for $10,000 to repair your car. In some instances, the insurer will only pay damages up to the value of your vehicle. If the repair costs go far beyond the value of your vehicle, then the insurer will declare a total loss. You instead get a fair market value or actual cash value, and then they take possession of your car. In other cases, the deductible is too expensive at the time for the coverage, and you’d rather get a settlement from the other party. When this happens, you can include this amount when applying for pre-settlement auto accident loans. The other party’s insurer, who is at fault for your car accident, can later settle with you and provide compensation so that you can pay back your cash advance.
Medical Bill Damages: Almost every car accident can result in injuries to your body. The most common forms of injuries include bruises, scratches, lacerations, broken bones, whiplash, brain trauma, fractured rib cages, and spinal cord injuries. This is why medical expenses can be very costly, as a car accident can result in surgery. Your car accident cash advance can include medical bill damages, such as on-site stabilization after a devastating accident, emergency room treatment, and medical monitoring. You can also include the costs of surgery, medical tests, follow-up appointments, x-ray scans, and pharmaceutical pills. Therapies and other treatments can also be included. When you are not at fault for your injuries and have a strong compensation claim, your pre-settlement car accident loan can be used to help cover the cost of your medical bills.
Pain and Suffering Damages: Pre-settlement funding can also help cover the cost of any pain and suffering you experienced. Sometimes you may be experiencing depression, post-traumatic stress disorder (PTSD), anxiety, and other symptoms of emotional turmoil after a terrifying accident. You might also feel hopeless, shame, and embarrassed if you have become temporarily or permanently disabled and unable to continue the life you lived. Physical discomfort, such as severe pain, is also an all-too-common result of a bad car accident. A cash advance can help support you through this trauma, where you can pay for the therapy and support you need to get you through these difficult times.
Income Loss Damages: When you get into a terrible car accident, it is likely that you will have to take time off from work. Your damages may have caused you to get injured so badly that you cannot work part-time or full-time. If your injuries are so severe that you cannot return to your normal line of work after recovery, you will need help getting new certifications and job placement. Pre-settlement funding can be used to help cover the cost of wage loss. A pre-settlement auto accident loan can cover not only current income loss but also into the future should you have to recover for several months. Your car accident settlement may take some time before it becomes available to you, but instead of struggling, you can use the cash advance to help you through financial struggles.
Wrongful Death Damages: Motor vehicle accidents are often fatal and can result in the deaths of the driver or passengers. If you are a family member or survivor of a car accident victim, you can use an auto-accident settlement to help you recover the cost of your losses. Accident lawsuit loans can be used to cover some wrongful death damages, such as funeral and burial costs. You can also use a car accident settlement loan to pay for economic and non-economic damages unique to wrongful death victims. For example, loss of guardianship, companionship, consortium, and other non-economic damages are ones that are hard for the surviving members to cope with. The deceased may have been supporting the entire family, which is why their earning capacity may be included in the settlement. You can use pre-settlement funding to cover bills that the victim may have been paying for.
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